June 15, 2023 7:42am

Electronic trading and algorithms will be reversing course and buying back-in: then slap them down by selling into their highs, if you want to sell risk oriented Q2/earnings – soon to be upon investors

Pre-open Indications: I’m pausing

My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not tomorrow or yesterday.

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8:00 a.m. edition

Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session. My interpretation of the morning’s numbers is written to be informative; it’s built on what will happen behind the headlines today, not tomorrow or yesterday

 

Dow futures are DOWN -0.19% or (-66 points), S&P futures are DOWN -0.35% or (-15 point) and NASDAQ futures are DOWN -0.63% or (-96 points) early in the pre-open – so far

U.S. stock futures are diving on Thursday

European markets were lower,

Asia-Pacific markets rose although falling as their session moved on.

 

Henry’omics:

We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …

Indexes were mixed on Wednesday as the Dow closed DOWN -232.79 points (-0.68%), the S&P closed UP +3.58 points (+0.08%) while the Nasdaq closed UP +53.16 points (+0.39%)

Economic Data Docket: Weekly jobless claims numbers and retail sales for May are set to be released tomorrow morning. Investors will also keep an eye on the Philadelphia Fed’s June manufacturing survey, as well as the Fed’s May industrial production and capacity utilization numbers.

 

Wednesday (6/14) … RegMed Investors’ (RMi) closing bell: “the upside emptied on pessimism re share pricing. The Fed skipped, signaled that more rate hikes are coming after this month’s meeting.” …  https://www.regmedinvestors.com/articles/13003

 

Ebb and flow:

Q2/23 – June: 3 negative and 7 positive closes

·         May – 10 negative and 12 positive closes

·         April ended - 1 holiday, 8 positive close and 11 negative closes

Q1/23 –

·         March – ended with 10 positive and 13 negative closes

·         February – 1 holiday, 2 vacation, 7 negative and 8 positive closes

·         January – 2 holidays, 11 positive and 9 negative closes

 

Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS

I saw a few rising yet, I am parsing – let them ride – if possible!

 

The BOTTOM LINE:

I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all, as I try to keep it simple and short!

The sector dove as policy increases were “parsed” – leaving fed funds rate at 5%-5.25% after raising it by five full percentage points in little more than a year and the Nasdaq is now falling on Thursday.

WHY do I feel to Pause: “The Nasdaq probably could use a pause or pullback. It's now 9.2% above its 50-day line and trading above the top of a regression line. The Nasdaq 100 is now 10.6% above that key level.”

I also hate to be so negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!

 

 

Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

All investments are subject to risks. Investors should consider investment objectives.

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.

Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions securities referred to in this publication.